Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

FCG 4.3 Further guidance

FCG 4.3.1

1FCTR contains the following additional material on fraud:

  1. FCTR 10 summarises the findings of the Small Firms Financial Crime Review. It contains guidance directed at small firms on:

    1. ◦ Monitoring activity (FCTR 10.3.3G)

    2. ◦ Responsibilities and risk assessments (FCTR 10.3.7G)

    3. ◦ General fraud (FCTR 10.3.13G)

    4. ◦ Insurance fraud (FCTR 10.3.14G)

    5. ◦ Investment fraud (FCTR 10.3.15G)

    6. ◦ Mortgage fraud (FCTR 10.3.16G)

    7. ◦ Staff/Internal fraud (FCTR 10.3.17G)

  2. FCTR 11 summarises the findings of the FSA’s thematic review Mortgage fraud against lenders. It contains guidance on:

    1. ◦ Governance, culture and information sharing (FCTR 11.3.1G)

    2. ◦ Applications processing and underwriting (FCTR 11.3.2G)

    3. ◦ Mortgage fraud prevention, investigations, and recoveries (FCTR 11.3.3G)

    4. ◦ Managing relationships with conveyancers, brokers and valuers (FCTR 11.3.4G)

    5. ◦ Compliance and internal audit (FCTR 11.3.5G)

    6. ◦ Staff recruitment and vetting (FCTR 11.3.6G)

    7. ◦ Remuneration structures (FCTR 11.3.7G)

    8. ◦ Staff training and awareness (FCTR 11.3.8G)

  3. FCTR 14 summarises the findings of the FSA’s thematic review Banks’ defences against investment fraud. It contains guidance directed at deposit-takers with retail customers on:

    1. ◦ Governance (FCTR 14.3.2G)

    2. ◦ Risk assessment (FCTR 14.3.3G)

    3. ◦ Detecting perpetrators (FCTR 14.3.4G)

    4. ◦ Automated monitoring (FCTR 14.3.5G)

    5. ◦ Protecting victims (FCTR 14.3.6G)

    6. ◦ Management reporting and escalation of suspicions (FCTR 14.3.7G)

    7. ◦ Staff awareness (FCTR 14.3.8G)

    8. ◦ Use of industry intelligence (FCTR 14.3.9G)

FCG 4.3.2

1FCTR 2 summarises the FSA’s thematic review Firms’ high-level management of fraud risk.